Bankruptcy has a long history that goes back to Biblical times. In ancient Rome, lenders did business on a bench, or bancus, from which we get the English word “bank.” When a money-handler went out of business, their bench was symbolically broken (ruptus), as a sign of their failure. Together, the words bancus and ruptus […]
Posts Tagged: Corporate bankruptcy
General Motors sent 200,000 pages of evidence to U.S. officials looking into a faulty ignition system, which may have caused 13 deaths. The National Highway Traffic Safety Administration wants to know why General Motors took more than ten years to recall the faulty systems. This occurred as the company was emerging from one of the […]
